Solid GT, LLC, a Cambridge, MA-based developer of novel, disease-modifying therapeutics for Duchenne muscular dystrophy (DMD), completed a $42.5m first closing of a Series B round of financing.
The round was led by Perceptive Advisors and Biogen along with funds managed by Janus Capital Management LLC and private investors. As part of the transaction, Perceptive’s Adam Stone and Biogen’s Lynne Sullivan will join Solid GT’s board of directors.
The company intends to use the funds to advance the development of its platform for DMD.
Led by Ilan Ganot, Chief Executive Officer, Solid GT is a subsidiary of Solid Biosciences. The company’s licensed technology has demonstrated efficacy in various DMD animal models and lead candidates are currently undergoing, IND-enabling studies. Founded in 2014 Solid GT is collaborating with patient organizations, experts, universities, hospitals and gene therapy centers, globally.